First-Time Parents Tax Credit Act

[AI summary unavailable — showing source text] [Congressional Bills 119th Congress] [From the U.S. Government Publishing Office] [H.R. 4653 Introduced in House (IH)] <DOC> 119th CONGRESS 1st Session H. R. 4653 To amend the Internal Revenue Code of 1986 to establish a refundable tax credit for first-time parents. _______________________________________________________________________ IN THE HOUSE OF REPRESENTATIVES July 23, 2025 Mr. Figures introduced the following bill; which was referred to the Committee on Ways and Means _______________________________________________________________________ A BILL To amend the Internal Revenue Code of 1986 to establish a refundable tax credit for first-time parents. Be it enacted by the Senate and House of Representatives of the United States of America in Congress assembled, SECTION 1. SHORT TITLE. This Act may be cited as the ``First-Time Parents Tax Credit Act''. SEC. 2. FIRST-TIME PARENTS TAX CREDIT. (a) In General.--Subpart C of part IV of subchapter A of chapter 1 of the Internal Revenue Code of 1986 is amended by inserting after section 36B the following new section: ``SEC. 36C. FIRST-TIME PARENTS TAX CREDIT. ``(a) Allowance of Credit.--In the case of an eligible new parent, the…